The Mohr Davidow GP says he will focus on IPOs, broadening the association’s reach and finding a replacement for retiring president Mark Heesen.

At the end of a two-day conference celebrating all that is venture capital, a quartet of limited partners offered some pointed criticism on what the industry – and the bulk of its practitioners – are doing wrong.

Venture investing pulled back in the first quarter due in part to a broad industry-wide rationalization. The deals most feeling the pinch are early stage ones. Here are some thoughts on why from a look at the numbers.

Venture capitalists began 2013 by pouring money into startups at the slowest pace in two years, suggesting a reset for an industry where dollars coming into new funds has trailed portfolio company investments for six years.

President Obama brought new attention to the carried interest debate on Wednesday by unveiling a budget with a proposed change in how venture capitalists and private equity managers are taxed on investment income. Don’t expect a quick tax hike.

Long time head of the National Venture Capital Association Mark Heesen announced on Thursday that he would step down from his post when a successor is found. After 22 years with the association and 14 as its president, he said it was for time for new blood. Here is Heesen in his own words.

Mark Heesen, the tireless head of the National Venture Capital Association for 14 years, announced on Thursday his intention to retire from his role as the nation’s top lobbyist for the venture capital industry.

The National Venture Capital Association is adding an office hours event to its annual meeting on May 14 in San Francisco. The event, for entrepreneurs and venture capitalists, will guarantee entrepreneurs at least two meetings with venture investors.

Mark your calendars for VentureScape, May 14-15 in San Francisco; and be prepared to be engaged.

How are U.S. venture capital funds performing? Depends on which time frame one looks at, and whether one focuses on portfolio value or cash returns. But overall, new data from Cambridge Associates shows VC performance improving over a 10-year time frame but third- quarter write-downs weighed on results.